—This paper presents and discusses the calculation of a
new competitiveness index for 18 countries in Latin America.
The position of each country in our index is based on the
comparison of 8 indicators in four dimensions and the weight
thereof throughout the years 1999-2010. The system of weights
allows time and dimensional preference. The dimensions
analyzed are economic, social, institutional and technological.
The indicators used are: real GDP per capita, net foreign direct
investment per capita, net migration rate, income per capita,
the rate of property rights, the level of freedom, corruption,
investment in research and development per GDP%, and
labour force with tertiary education. The competitiveness index
of selected Latin-American countries was calculated based on
the sequence and value of these indicators, resulting in a
ranking of these countries. Other factors such as security,
infrastructure, the role of technology, education, liberalization
of the economy, and factors associated with investments in
human capital were also post examined. This rather simple and
easily computable index yields very good results and is
comparable with other indices. We hold the idea that other
indices of competitiveness calculated in the world are too
complicated and don´t cover all the countries. In this paper we
have tried to demonstrate that it is possible to find other, simple
methods of how to explain and calculate a competitiveness
—Latin america, competitiveness index,
economic development, institutions.
Lourdes Daza Aramayo and Marek Vokoun are with the University of
Economics, Prague, Czech Republic (e-mail: email@example.com;
Cite:Lourdes Gabriela Daza Aramayo and Marek Vokoun, "Measuring Competiveness: Latin-American Experience," International Journal of Trade, Economics and Finance vol.3, no.6, pp. 398-403, 2012.